|WASHINGTON, D.C. –– Even as COVID-19 deaths surge across the country, a new report issued today by Patients For Affordable Drugs shows it’s business as usual for Big Pharma. Drug corporations are continuing to increase prices, and particularly on drugs vital to COVID-related outcomes. Since the beginning of the year, drug corporations have increased the prices of over 1,000 drugs, with more than 200 increases since July. The report details 10 of the most egregious price increases, including on drugs being tested for use against COVID-19 and medicines that treat COVID-19 comorbidities, demonstrating pharma’s ongoing practice of cashing in on the current crisis.
“Americans are hurting from the pandemic’s devastating health and financial impact, but Big Pharma executives continue to cash in on the crisis,” said David Mitchell, a cancer patient and the founder of Patients For Affordable Drugs. “Drug corporations are raising prices on existing drugs while they set prices on new taxpayer-funded COVID-19 treatments and vaccines that yield profits as high as 90 percent. This report highlights the fact that Big Pharma won’t change its ways without reforms that curb its unfettered pricing power.”
Read the report here.